Some consumer groups have joined calls for the National Petroleum Authority (NPA) to immediately reduce prices of petroleum products.
This comes a few days after the Trades Union Congress (TUC) made similar demands.
The price of crude oil on the world market has hit a five-year low; currently selling at around 60 dollars per barrel.
But importers of crude, Bulk Oil Distribution Companies (BDCs) have warned government not to succumb to mounting pressure for fuel prices to be reduced.
Speaking to Citi Business News the representative of the Consumer Action Front Dauda, Mohammed Suru said the NPA must respect the Automatic Adjustment Formula used in determining fuel prices.
“It is very unfortunate and disappointing that people who should be giving us leadership and direction will vary their policy as and when they think it suits them”, he stressed.
The Consumer Protection Agency (CPA) is also calling on the National Petroleum Authority to account for the monies so far accrued due to delay in the reduction of petroleum products.
According to the NPA, the refusal to reduce petroleum prices will afford government the opportunity to pay outstanding debts owed the Bulk Oil Distribution Companies (BDCs).
According to Head of Consumer Protection Agency (CPA), Kofi Kapito there is the need for transparency.
He said,” even if we are going to be paying this , how long is it going to take for us to be able to clear that old debt…but i also support the call that it should be reduced”.
By: Rabiu Alhassan/citifmonline.com/Ghana